Two Harbors Investment Corp. (NYSE: TWO), a mortgage servicing rights-focused REIT and CrossCountry Mortgage LLC (CCM), have amended their merger agreement to increase the per-share all cash consideration payable to Two Harbors stockholders to $12.00 per share from $11.30 per share under the previous merger agreement.
The 70-cent increase matches the $12.00 per share offer made by UWM Holdings Corporation (NYSE: UWMC) to revive its canceled merger plans by one-upping the offer put forth by CCM.
Two Harbors President and CEO Bill Greenberg stated, “The CCM transaction delivers a fixed price all-cash consideration to every TWO stockholder – automatically and without election – with committed financing, no financing contingency, and a clear path to close in the shortest timeframe. In contrast, UWMC’s default stock consideration is currently worth only $7.88 per TWO share based on UWMC’s closing trading price on May 7, 2026. Our board is confident that the CCM transaction is in the best interest of, and the only credible and actionable path forward for, TWO stockholders.”
“We are raising our all-cash offer to $12.00 per share, which represents a compelling outcome for TWO stockholders and would reflect one of the highest multiples paid for a mortgage REIT,” added Ron Leonhardt, founder and CEO of CrossCountry Mortgage. “From the outset, our focus has been on certainty—our agreement is signed, our $3.4 billion financing package is fully committed, and we are already more than halfway through the required regulatory approvals. We are committed to closing this transaction.”
UWM did not immediately comment on this development.
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